Diversified Ethanol Buys 14 Acres in the Corn.CHICAGO -- Diversified Ethanol ethanol (ĕth`ənōl') or ethyl alcohol, CH3CH2OH, a colorless liquid with characteristic odor and taste; commonly called grain alcohol or simply alcohol. , a Division of James Monroe Capital Corporation (Pink Sheets:JMCP JMCP Journal of Managed Care Pharmacy JMCP Joint Mission Capability Package ), signed a purchase agreement on Friday afternoon to buy a 14 acre piece of land near Eagle Grove, Iowa Eagle Grove is a city in Wright County, Iowa, United States. The population was 3,712 at the 2000 census. According to population estimates the population had decreased to 3,455 by 2006. Geography Eagle Grove is located at (42. for the location of plant number two. The property features grain storage bins, steel tanks, hoppers, augers, a steel building to house equipment, a shop, storage buildings, and its own well. The property also has an outer lot, which is across the street from a golf course, which could be sold off. The company has already signed contracts and put earnest money A sum of money paid by a buyer at the time of entering a contract to indicate the intention and ability of the buyer to carry out the contract. Normally such earnest money is applied against the purchase price. down to buy the property on contract. Diversified Ethanol already has partial possession of the property, and is marking-out the property plan for site layout. The purchase agreement closes January 3, 2007. Diversified Ethanol workers may begin moving equipment to the facility before then, as needed as needed prn. See prn order. , and will be moving one of the small bulk bins to facility number one. Diversified Ethanol's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Taylor Moffitt commented, "This site has plenty of room to house numerous plant modules, and buildings where we could manufacture thousands of distillation distillation, process used to separate the substances composing a mixture. It involves a change of state, as of liquid to gas, and subsequent condensation. The process was probably first used in the production of intoxicating beverages. columns for worldwide demand. This will make a nice addition to our portfolio, and demonstrates to all that James Monroe Capital is to be taken seriously. We should have timeframe estimates later this week." This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. |
|
|||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion